Bitbydi trader explains why bitcoin price exceeded $45k for the first time since early January and total market capitalization of digital assets reached $2 trillion again
Trader Bitbydi believes that the recent recovery of bitcoin to $45,000 and the capitalization of the crypto market to $2 trillion was due to the arrival of large corporations in the market. The analyst predicts that large investors will continue to buy cryptocurrencies, which will allow the market to come out of the downward movement and return to growth.
“Corporate treasurers are not going to buy at new historical highs. They are buying when assets are selling at a discount. This is the thinking of large corporations, who understand that you have to buy when there are hardly any willing buyers in the market.”
As an example, the trader recalled the purchase of Bitcoin and Ethereum by the Canadian arm of the Big Four accounting firm KPMG. In the near future, the company plans to strengthen its position in the DeFi, NFT and meta-universes segments.